Maintaining $81 FVE as Compass Remains on Track for Full Goderich Recovery; Shares Undervalued
Compass Minerals reported decent first-quarter results, as operating earnings grew 25% year on year to $33 million. Higher profits were driven by lower salt unit production costs and higher salt prices, partially offset by weak results in the fertilizer business. In the earnings release, management raised its full-year guidance for salt sales volumes by 500,000 tons to a range of 10.5 million to 11 million tons because of greater-than-expected first-quarter salt production. However, management a...Compass Minerals International is a holding company. Through its wholly owned subsidiaries, the company is a provider of minerals, including salt, secondary nutrients and micronutrients, and specialty chemicals. The company has three reportable segments: Salt, which produces, markets and sells salt and magnesium chloride and sodium chloride; Plant Nutrition North America, which includes sales of sulfate of potash specialty fertilizer and specialty plant nutrients; and Plant Nutrition South America, which manufactures, distributes and markets an array of specialty plant nutrients and supplements developed and formulated from primary and secondary nutrients, specialty plant nutrients and biostimulants.
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